How to detect malicious bitcoin and other cryptocurrency wallet apps

The answer is you can’t. Relying on a security app to listen out for malicious activity inside an app is like allowing a burglar to break into your home while relying on an alarm to alert you when they try to take something. It’s useful of course, but why not prevent the burglar from breaking into your home in the first place?!

I’m going to ask our community to help us identify the URLs that link to legitimate crypto apps. We will then verify and classify them in the same way that we verify and classify their websites and social media accounts. By doing this, Cryptonite will provide a visual indicator on your browser toolbar, to help you identify legitimate apps — you can then avoid everything else.

2018 is going to be a busy year in the crypto security world. I predict a massive increase in phishing websites and apps. My advice is not to download apps via a mobile device. Instead, install Cryptonite and look out for the green shield to indicate that the site or app you are looking at, has been verified and safe.